 "Axis Bank Q2 profit up 19%, meets estimates")
Axis Bank, India's third-biggest private sector lender by assets, reported a 19% increase in second-quarter profit, in line with estimates, while its bad loans remained stable.
Net profit rose to Rs 1,916 crore ($295 million) for the three months to Sept 30 from Rs 1,611 crore a year earlier, the Mumbai-based bank said in a statement.
Analysts on average had expected a net profit of Rs 1,920 crore, according to data compiled by Thomson Reuters.
The asset quality of the bank, however, slipped a tad as gross non-performing assets (NPAs) or bad loans rose to 1.38% of gross advances as of September 2015 as against 1.34% a year ago.
Likewise, net NPAs as a percentage of net advances during the second quarter stood at 0.48% as against 0.44%.
The bank's shares were trading at Rs 523.60, up 0.47% on BSE in late afternoon trade.
The bank's shares were trading at Rs 523.60, up 0.47% on BSE in late afternoon trade.
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